The global SaaS-based business analytics market to grow at a CAGR of 25.84% during the period 2017-2021.

The report covers the present scenario and the growth prospects of the global SaaS-based business analytics market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The report also includes a discussion of the Key vendors operating in this market.

One trend in the market is emergence of advanced analytical tools. Advanced analytics solutions are one of the upcoming trends in the global SaaS-based business analytics market. These solutions help companies in comprehending data generated by multiple sources.

According to the report, one driver in the market is exponential increase in data. Large volumes of data are generated by numerous sources such as the Internet, mobile evices, and social media. Due to the increasing volume, variety, and velocity of data (commonly known as 3Vs) organizations find it challenging to analyze and manage large databases efficiently. In addition, veracity, the fourth component in the big data management systems, eliminates irrelevant data that involve high costs.

Further, the report states that one challenge in the market is threat from open-source business analytics vendors. Open-source business analytics vendors pose a challenge to the global SaaS-based business analytics market. Vendors, such as Pentaho and Jaspersoft offer free business analytics solutions.

The global business analytics market is characterized by several open-source vendors that provide a range of business analytics tools and applications. A combination of products from various open-source vendors provides approximately all the functions of on-premises or on-demand business analytics software.